4 Virtues of Stoicism You Can Apply In Sales
How stoicism can improve your sales: Exploring the four virtues of the ancient Greek philosophy - from Zeno to Richard Branson.
Old friends, new friends,
I've been in sales for as long as I can remember. From selling fish in the market to watermelon on the street, I've always had a passion for connecting with people and closing deals. And today? Well… I sell web development (B2B) services.
But, no matter what I sell, I still rely on the 4 fundamental principles of Stoicism in my approach to sales. In this article, we will explore how these virtues can help you succeed in the competitive world of sales, “from selling fish to high-end web development services.”
For those who are new to stoicism: Stoicism it's a school of philosophy that was founded by the ancient Greek philosopher Zeno of Citium in the early 3rd century BCE. It's all about developing your personal ethics and resilience, so you can handle whatever life throws your way.
One of the key parts of stoicism is the four virtues: courage, temperance, justice, and wisdom. They're like the building blocks of the philosophy. And guess what? They can be super useful in sales too.
Let's take a closer look at how each of these virtues can help you in the sales world (with specific world-class examples).
Courage (1/4)
In sales, it takes courage to approach potential clients, especially in a highly competitive industry. However, courage goes beyond simply making the initial contact. It's also about having the confidence to push through objections, ask difficult questions, and navigate the uncertainties of the sales process. A Stoic would advise you to cultivate the courage to face rejection, to learn from it, and to keep pushing forward.
Mary Barra, the CEO of General Motors, was facing one of the toughest challenges of her career in 2014. The company was in the midst of a massive recall scandal that had left consumers questioning the safety of GM vehicles. But Barra didn't shy away from the crisis, instead, she stepped up to take ownership of the situation.
Barra showed tremendous courage by acknowledging the mistakes that GM had made and pledging to do better. She took swift action to implement changes that would improve the company's safety culture and prevent similar issues from happening in the future. And she didn't stop there. Barra also demonstrated wisdom by looking towards the future and investing in new technologies like electric vehicles.
Barra's Stoic approach to leadership helped her navigate a difficult situation and turn GM around. Her focus on innovation and transparency has helped the company regain the trust of consumers and positioned GM as a leader in the industry. Through her leadership, Barra has shown that even in the face of adversity, a Stoic mindset can lead to success.
Temperance (2/4)
Temperance is the ability to exercise self-control and restraint. In sales, this means being able to manage your emotions, especially in high-pressure situations. It's easy to get frustrated or upset when negotiations don't go your way or when you encounter difficult clients. However, a Stoic would advise you to practice self-control and not let your emotions get the better of you. Instead, focus on the things you can control, such as your own behavior and responses.
In the world of retail, profits are king. Every company wants to sell as much as they can and make as much money as possible. But for Yvon Chouinard, the founder of Patagonia, profit wasn't everything. He believed that businesses had a responsibility to do good in the world and that sustainability was key to creating a better future.
Chouinard thought about the impact his company had on the environment.
So, Chouinard came up with a bold plan. He decided to run a full-page ad in The New York Times that read "Don't buy this jacket." The ad was part of a campaign to promote conscious consumption and reduce waste. Chouinard knew that this would mean sacrificing short-term profits, but he believed that it was the right thing to do.
The ad sparked a conversation about sustainability and ethical business practices. Customers praised Patagonia for its commitment to the environment, and the company saw an increase in sales from people who appreciated their values. Other companies started to take notice and began to prioritize sustainability as well.
Today, Patagonia is known not just for its high-quality outdoor gear but also for its commitment to sustainability and ethical business practices. The company continues to promote conscious consumption and reduce waste, showing that sometimes doing the right thing can also be good for business.
Justice (3/4)
Justice is the virtue of fairness and impartiality. In sales, this means treating all potential clients with the same level of respect and consideration. It also means being honest and transparent in your dealings, even if it means losing a sale. A Stoic would advise you to act with integrity, to do what is right, even if it's not always easy or profitable.
Let’s look at the approach taken by Zappos, an online shoe and clothing retailer.
When Tony Hsieh founded Zappos, he knew he wanted to create a company that stood out from the rest. He wanted to build a brand that was known not just for its products, but for its exceptional customer service.
In the early days, Zappos struggled to gain traction. Despite having a vast inventory of shoes and clothing, customers weren't flocking to the site as he had hoped. Hsieh realized that to succeed, he needed to prioritize the customer experience above all else.
He made the bold decision to offer free shipping and a 365-day return policy, something unheard of in the industry. He knew it would be expensive, but he believed it would be worth it to build trust with his customers.
As Zappos began to grow, Hsieh knew that transparency and honesty were crucial to the company's success. He instructed his employees to always be upfront with customers, even if it meant recommending a competitor's product.
One day, a customer called Zappos looking for a specific pair of shoes. Unfortunately, the shoes were out of stock. Instead of trying to sell the customer on a different pair, the Zappos employee recommended a competitor's shoe that he believed would better meet the customer's needs.
The customer was shocked but grateful for the honesty. He ended up becoming a loyal Zappos customer and told all his friends about his positive experience.
By prioritizing fairness and honesty, Zappos has built a reputation for trustworthiness and customer satisfaction. It's not just about selling shoes; it's about building relationships and making customers feel valued.
Wisdom (4/4)
Wisdom is the ability to make good decisions based on sound judgment and knowledge. In sales, this means having a deep understanding of your products and services, as well as the market and industry trends. It also means being able to read the client and tailor your approach to their specific needs and goals. A Stoic would advise you to cultivate wisdom through continuous learning and self-improvement.
Richard Branson, the founder of Virgin Group, is a prime example of how the Stoic virtues of courage and wisdom can lead to success in sales. Branson's first foray into entrepreneurship was a student magazine called Student at the age of 16. He then went on to start a mail-order record business, which later grew into Virgin Records. Despite facing numerous setbacks and failures along the way, Branson had the courage to keep pushing forward and taking calculated risks.
In one instance, Branson's airline, Virgin Atlantic, was facing a difficult situation. A major rival had launched a new business class service that was superior to Virgin's offering. Rather than giving up or trying to copy the competition, Branson showed wisdom by taking a different approach. He tasked his team with coming up with a new idea that would set Virgin apart. They came up with the idea of a private suite in the sky called the "Upper Class Suite." This innovative idea not only helped Virgin stay competitive but also established the company as a leader in the airline industry.
Through his boldness and intelligence, Branson has built an empire of successful companies that prioritize customer satisfaction and unique experiences. He understands that to succeed in sales, you must be willing to take risks and embrace new ideas, even in the face of adversity. His ability to embody the Stoic virtues of courage and wisdom has not only led to his success but also inspired countless others to follow in his footsteps.
In conclusion, the Stoic virtues of courage, temperance, justice, and wisdom can be invaluable in sales.
By practicing these virtues, you can develop the resilience, integrity, and expertise needed to succeed in a competitive and ever-changing market. So, the next time you find yourself facing a challenging sales situation, take a deep breath, remind yourself of these virtues, and approach the situation with confidence and clarity of purpose.
PS: Remember, sales success is not just about closing deals; it's about building lasting relationships with customers.
Vale,
Dan Nistor
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